Gaowei Technology (02086) announced its annual results for the year ended December 31, 2023. The group obtained revenue during the period...
According to the Zhitong Finance App, Gaowei Technology (02086) announced the results for the year ended December 31, 2023. The group achieved revenue of HK$79.2 million during the period, a decrease of 16% over the previous year; the company's equity holders should have accounted for a loss of HK$19.211 million, while the company's equity holders should have accounted for a profit of HK$1.126 million in the same period last year; and a basic loss of HK$6.012 per share.
According to the announcement, the decrease in revenue of HK$15 million was mainly due to the impact of the war in Europe and the economic downturn, which reduced revenue from HK$55.8 million in 2022 to HK$35.8 million in 2023. Disruptions caused by the war and economic downturn seriously affected the shipping schedule of the Group's products, leading to a decline in total sales revenue.